XCEL Chapter 4 Part 2

All of the following are considered to be nonforfeiture options available to a policyowner EXCEPT...

Which situation accurately describes a reduced paid-up nonforfeiture option?

A life insurance policyowner does NOT have the right to...

Which of these is considered to be a Living Benefit option in a life insurance policy?

What is the name of the provision which states that a copy of the application must be attached to the policy when issued?

What is an insurer required to do when faced with an error made under the Misstatement of Age provision?

Loans obtained by a policyowner against the cash value of a life insurance policy...

A whole life policy option where extended term insurance is selected is called a

Which of these is NOT a characteristic of the Accelerated Death Benefit option?

All of these are valid policy dividend options for a life insurance policyowner EXCEPT...

Kurt is an active duty serviceman who was recently killed in an accident while home on leave. Which military service exclusion clause would pay upon his death?

James is the insured on a life insurance policy where his age was misstated on the application. Which of the following is CORRECT regarding the death benefit amount?

A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is called a...

Pat owns a 20-pay life policy with a paid-up dividend option. Which of the following statements is true?

An endorsement found in an insurance plan which modifies the provisions of the policy is called a...

Ownership of a life insurance policy may be temporarily transferred with a...

Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue?

All of the following riders can increase the death benefit amount EXCEPT...

In what part of an insurance policy are policy benefits found?

A waiver of premium rider allows an insured to waive premium payments if the insured is...